I've been watching this pair for a few weeks. A very nice uptrend. I drew that green trendline last week. Look how it's just bouncing: This is all I do; trading horizontal and sloping trendlines.
Price bounced 50 pips overnight and retraced back to support. I'm currently in at 7620. My stop is below support; if I'm stopped out, I'll look for another re-entry opportunity. I drew a downtrend line that must be broken before I add to the position (if it moves higher).
Now that's what ah'm talkin' 'bout. The purple line is the new accelerated trendline. I'll try to buy dips to it.
Sucker fell outta bed, didn't it? I was probing for a potential multi-week ride but ended up with a day trade profit. Hate to say it, but it looks a lot like a double top on the 3 hour chart. 7525 is the 50% retrace from the low on 5-May to the high on 10-May. It's looking like it might bounce from there.
DO NOT ignore the weekend bars. Any type of trading that goes on is important. If you "cut out" a certain portion you distort the chart big time.
I only filter out the ones that go tick tick tick straight across. My filter opens back up at noon Sunday eastern US time.
Weekend bars. I spent many weekends in bars. Trading went on constantly. Money for beer, beer for sex, sex for drugs. I "cut out" the whole scene entirely. Sorry Publix, couldn't help myself.